Bitcoin (BTC) price is trading without directional bias, just sliding horizontally after the late August dip. With it, Ethereum (ETH) and Ripple (XRP)
prices also show a lack of momentum, which could bode poorly for investors as markets tend not to hold out for so long.The developer or creator of each cryptocurrency decides on the total number of tokens that can be minted or issued. Only a certain number of these assets can be minted by mining, staking or other mechanisms. This is defined by the algorithm of the underlying blockchain technology.
Notably, the Relative Strength Index is inclined south and could soon cross below the signal line . Such a move is often interpreted as a sell signal. Also notable, the histogram bars of the Awesome Oscillator are negative, suggesting bears have the upper hand.
While overcoming this barricade would be ideal, Bitcoin price would remain in the woods until after a decisive daily candlestick close above the $31,518 level.Ethereum price is inclined towards the downside, recording lower lows as the price tests the $1,621 support level. Meanwhile, the RSI is recording higher highs, with the disparity presenting a bullish divergence. This forecasts a possible move north, but it all depends on whether the $1,621 support level holds.
In a dire case, Ripple price could extend to the August 17 intraday low of $0.4191, marking a 15% drop below current levels. The RSI is also heading down, pointing to falling momentum.On the flipside, the AO histograms are edging toward the midline with consistently green bars, showing that bulls maintain a presence in the market.
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